Number Crunching

Any potential schadenfreude from witnessing the Big Three CEOs down on their knees before the House, begging for money they're unlikely to receive, is tempered by knowledge of the workers who depend upon these deeply flawed corporations for their paychecks. The sight of Rick Wagoner and Alan Mulally posing for photos outside the hybrids they drove from Detroit in a massive publicity operation - even going so far as to admit the ultimate in shameful sacrifice; stopping at a Pennsylvania Quiznos along the way - only gives me momentary amusement. I'm far more struck by the belligerent tones taken by politicians as they heap abuse onto corporations they've defended for years, as they write off workers as expendable details, and as they blame the ultimate bogeyman in American politics - labor and unions - for the mess inside the Big Three. As somebody whose fervent dislike of the automobile industry and automobile culture stems from the countless crimes they've committed against the environment and city design, I will still take little delight in seeing them fall.

There's also a clear distinction being made between organizations that employ thousands upon thousands of workers (namely, the automakers) and organizations that traffic in large amounts of funds (namely, the credit and banking industry). And while I wouldn't deny the centrality of a group like Freddie Mac or Fannie Mae to the economy, I don't recall David Moffett or Herbert Allison ducking rotten food during their begging sessions leading up to the federal takeover.

Still, corporate welfare lacks a representative Welfare Queen figure, and perhaps the recent mud-slinging was an early attempt by bailout-fatigued lawmakers to locate one amid the factories of Detroit, rather than Chicago's South Side. I think they may be barking up the wrong tree, and I'd love to see documented proof of, say, Richard Shelby's past calls and campaigns in support of green energy and fuel-efficient vehicle standards, since it seems to be such a major talking point for him lately. But the disdain for both the company CEOs and the auto workers seems equal and obvious.

I often look to the monthly Harper's Index for insights into current events and trends, and am struck by how numbers often speak volumes more than words. I came across the following three statistics, and now I'm trying to discern how they relate to the situation comedy (certainly not a Greek tragedy) taking place on Capitol Hill.

Percentage by which the $750 billion bailout exceeds the total U.S. GDP of a century ago, adjusted for inflation: 50

Percentage by which it exceeds the cost of the entire New Deal: 33

Percentage by which it exceeds the cost of the 1990 savings-and-loan bailout: 3